5G Monetisation: Nokia, Verizon & T-Mobile Lead
Following years of record-breaking capital investment in deploying 5G infrastructure, the global telecommunications industry now finds itself at a critical inflexion point.
The era of coverage milestones and consumer subscriber growth is giving way to more complex questions around return on investment (ROI).
With average revenue per user (ARPU) remaining stubbornly flat in most markets, communications service providers (CSPs) are shifting attention to enterprise use cases and alternative service models to recoup their 5G outlay.
According to John Abraham, Principal Analyst at Appledore Research, many telcos are underprepared. “Most service providers are ill-prepared to engage and monetise emerging 5G-enabled use cases effectively and need to urgently transform their BSS,” he says.
“With service providers looking to get that ROI on 5G, now is the time for them to invest in flexible monetisation systems, especially as 5G brings to the forefront the importance of real-time charging capabilities. Given Nokia’s portfolio and expertise, they are well placed to support CSPs on this journey.”
Fixed wireless access: the unexpected monetisation engine
Fixed Wireless Access (FWA) has emerged as a surprising hero in the 5G monetisation story.
Once considered a niche solution, FWA is now a strategic tool for CSPs aiming to disrupt incumbent broadband markets, particularly in areas where fibre is economically unfeasible.
The June 2025 Ericsson Mobility Report reveals that 80% of CSPs now offer FWA services, a number that continues to grow. More importantly, more than half of these providers (51%) are now offering speed-based tariff plans, up from just 40% in mid-2024.
The rise of FWA is most visible in North America, where the service accounts for 99% of all net new broadband connections over the past three years.
In the United States, Verizon’s Q1 2025 results highlight the trend. While postpaid phone subscriptions declined, its FWA segment posted strong growth. Some operators are even reporting waitlists exceeding one million households.
The projections are equally striking. Globally, the expectation is that FWA subscriptions will reach 350 million by 2030, representing more than 35% of new fixed broadband connections.
Jonah Pransky, Head of Digital Business within CNS at Nokia, sees the technology as a gateway to smarter, more agile service innovation: “Moving to cloud-native BSS is becoming increasingly important to ensure greater business agility.
It is particularly true when it comes to efficiently monetising 5G and capturing new revenue streams that 5G makes possible.”
Challenges behind the growth curve
While FWA delivers near-term growth and helps CSPs capture revenue from the fixed broadband market, it is not without its pitfalls. As a high-bandwidth, stationary service operating on mobile infrastructure, FWA places enormous strain on networks designed for mobility.
From a cost perspective, delivering FWA can be up to 20 times more expensive than mobile services. Yet, it often generates less revenue per bit due to price competition with established fixed-line operators.
The result introduces a strategic paradox. FWA monetisation can jeopardise overall network performance if not managed correctly. CSPs are now turning to technologies such as network slicing to separate FWA traffic and preserve quality for mobile users.
T-Mobile, for example, is pairing its 5G FWA strategy with targeted fibre investment to manage backhaul more effectively and gain better control over performance and cost structures.
Enterprise use cases and the next wave of monetisation
Beyond FWA, the enterprise sector remains the most promising avenue for sustained 5G profitability. IoT, B2B2X models and private 5G networks all represent high-value opportunities that depend on agile, cloud-native monetisation systems and real-time charging capabilities.
Darshan Naik, Chief Growth and Strategy Officer at Capgemini Americas, notes: “Today’s telco leaders must understand the need for innovation to keep their businesses economically viable—while keeping prices maintainable for consumers.”
A call for strategic monetisation
The post-hype phase of 5G has arrived and success now depends on converting technical capabilities into economic value.
As CSPs wrestle with both opportunities and challenges, one thing is clear: monetisation is no longer a secondary consideration; it’s the central battleground for long-term viability in the 5G era.
